SylverTrading is another forex broker that plays fast and loose as regards to the information it provides. In the review below, we take an in-depth look at the features sylvertrading.com allegedly offers. This review basically answer the questions: is SylverTrading legit? Is SylverTrading reliable? The review covers aspects of its licensing, its account types, its leverages, its withdrawal and deposit methods. Read through our review to see what we and other experts have to say about sylvertrading.com.
Table of Contents
Sylver Trading Platform
SylverTrading claims that it is one of the world’s largest forex brokers. It is based in San Francisco and also claims to have over 13 years of experience on the financial markets. And they also say to be offering profitable account management services, which allow you to earn on the forex market without having to make trades by yourself.
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Sylver Trading Account Types
In this portion of the review, we aim to explore the account types a broker might have. We check the account with its corresponding deposit and leverage. Doing this gives a clearer idea how a broker might work.
After checking, we discovered that this broker does not have an interest in listing out its account types.
SylverTrading Deposit and Withdrawal Methods
Deposit and withdrawals are the two most important transactions for us because the end goal of trading is making a profit. In this section, we look at these methods to make sure everything is okay with it.
The payment section only provides a crypto payment method for funding. We do not advise you to send any funds to them as transactions with bitcoin are hard if not impossible to trace or reverse
This broker claims not to have any withdrawal fees.
Another thing to keep in mind is that there might also be withdrawal conditions concerning accounts that take advantage of the bonus promotion. Some fraudulent brokers stipulate that a trader must achieve a certain trading volume to be eligible for withdrawal. They do this to stop traders from making a withdrawal.
Is SylverTrading Licensed?
Licensing is another important part because we can trust a regulated broker to some extent not to do anything fraudulent. We do this part of the review by first checking the name of the company attached to the broker. Then we run that name through various regulatory bodies to discover if it regulates said brokerage.
This broker claims to be an investment company based and headquartered in San Francisco. The problem with this claim is that they make no mention of regulation through out their website. There is no company name or any corporate information whatsoever
In checking the license status of this broker, we had to check several regulatory bodies. We checked the FCA in the UK, ASIC in Australia, CySEC in Cyprus, BaFin in Germany, CONSOB in Italy, and many others. At the end of our search, we didn’t find any licensing information concerning this broker.
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Conclusion
We wouldn’t recommend using this forex brokerage, they do not impress us with the vague information they have provided.
In conclusion, we would not advise or recommend you to trade with sylvertrading.com , as they don’t give any valid information concerning if they are a regulated broker, Leading us to the conclusion that they are not.
Trading with them would likely result in you losing your money. There is a tremendous risk on any transactions interested traders may conclude with the brokerage and we deeply recommend they look elsewhere for viable trading option.